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SOUTHWICH, ENGLAND – OCTOBER 27: Mike Ashley, owner of Newcastle United is seen in the stands before the Premier League match between Southampton FC and Newcastle United at St Mary's Stadium on October 27, 2018 in Southampton, UK. (Photo by Michael Steele / Getty Images)
Mike Ashley has agreed to sell Newcastle United to Abu Dhabi billionaire Sheikh Khaled bin Zayed Al Nehayan for 350 million pounds sterling ($ 445.24 million), the sun and Reuters reported late Sunday.
The contracts between Ashley and Sheikh Khaled were signed and submitted to the Premier League, according to the report.
Ashley, who acquired a majority stake in the Premier League club in 2007, has already tried to sell the club.
Ashley, owner of British sportswear retailer Sports Direct International Plc, said last October that he had not received any offers acceptable to Newcastle, a year after it was officially put on sale. News from the sky by December, negotiations on an agreement had made promising progress.
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Any potential buyer of the club must be able to provide transfer funds, he said at the time.
Sheikh Khaled, cousin of Arab billionaire owner of Manchester City, Sheikh ben Zayed Al Nahyan, had previously failed in his bid to buy the Liverpool Football Club for 2 billion pounds Daily mail has already reported.
Sheikh Khaled is also the founder of Bin Zayed Group, a leading conglomerate with diverse commercial interests in local and international markets.
Newcastle United, the Premier League and the Bin Zayed Group did not immediately respond to Reuters' requests for comment.
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